Bloomberg: world’s largest central banks begin to transition from the dollar

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A number of large central banks have begun to shift to the buildup of reserves in the euro, instead of the US dollar, reports Bloomberg.

Analysts surveyed drew attention to the fact that the most comfortable conditions for buying the European currency have been created, while the US is pursuing a policy of protectionism.

According to one of the analysts on Wall Street, Jens Nordwig, by the year 2020, 500 billion dollars may be transferred to euros. Although specialists predict the preservation of the dollar’s dominance, even minor shifts with the forseeable protectionism of Donald Trump can lead to serious consequences.

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Earlier, US President Donald Trump announced the introduction of customs duties on the import of aluminum and steel in the US at a rate of 25% of the cost. In addition, it is planned to limit the volume of imports.

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